Washington, Nov 22 (IANS) — A senior US diplomat, Matt Murray, emphasized that tariffs are "not the only issue" influencing trade, amid ongoing concerns over President-elect Donald Trump's trade policy proposals, which include sweeping tariffs on US imports. Speaking on the future of trade relations, particularly with APEC partners like South Korea, Murray highlighted the broader factors crucial to trade beyond tariffs.
During a briefing, Murray, the senior official for APEC at the State Department, pointed to the need for "supply chain resiliency, " "good governance, " and anti-corruption measures as key components of robust trade relations. He stressed the importance of rules around digital trade, e-commerce, and cross-border data flows, suggesting that the APEC forum offers a platform to address these diverse issues beyond mere tariff discussions.
Trump's campaign proposals have included tariffs as high as 20% on imports, with a potential 60% tariff on goods from China, which could impact US trade relationships globally. However, Murray noted APEC’s multi-faceted approach to trade could help mitigate protectionist trends.
He also commended South Korea's readiness to lead APEC’s 2024 agenda, with Washington’s full support, highlighting South Korea's capabilities in supply chain and digital trade discussions.